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Report Date : |
27.10.2012 |
IDENTIFICATION DETAILS
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Name : |
SHACHAM GIVAT ADA LIMITED |
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Formerly Known As : |
SHACHAM – MINERALS $ CHEMICALS FOR THE INDUSTRY AND AGRICULTURE LTD. |
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Registered Office : |
P.O. Box 12 (3780801), Binyamina Local Council, Givat Ada 3780800 |
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Country : |
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Date of Incorporation : |
19.05.1964 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Recyclers of organic materials, manufacturers, importers, exporters and
marketers of organic pellets for fertilizer (e.g. organic fertilizer in
pellet form, bio compost, animal feed). |
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No. of Employees : |
50 employees |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30th, 2012
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Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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Israel |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
israel - ECONOMIC OVERVIEW
Israel has a technologically advanced
market economy. It depends on imports of crude oil, grains, raw materials, and
military equipment. Cut diamonds, high-technology equipment, and agricultural
products (fruits and vegetables) are the leading exports. Israel usually posts
sizable trade deficits, which are covered by tourism and other service exports,
as well as significant foreign investment inflows. The global financial crisis
of 2008-09 spurred a brief recession in Israel, but the country entered the
crisis with solid fundamentals - following years of prudent fiscal policy and a
resilient banking sector. The economy has recovered better than most advanced,
comparably sized economies. In 2010, Israel formally acceded to the OECD.
Natural gasfields discovered off Israel's coast during the past two years have
brightened Israel's energy security outlook. The Leviathan field was one of the
world's largest offshore natural gas finds this past decade. In mid-2011,
public protests arose around income inequality and rising housing and commodity
prices. The government formed committees to address some of the grievances but
has maintained that it will not engage in deficit spending to satisfy populist
demands.
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Source : CIA |
SHACHAM GIVAT ADA
LTD.
Telephone 972 4 638 95 51
Fax 972 4 638 95
56
P.O. Box 12 (3780801)
Binyamina Local Council
GIVAT ADA 3780800-ISRAEL
A private limited
company, incorporated as per file No. 51-043238-8 on the 19.05.1964.
Originally registered under the name of SHACHAM MINERALS LTD., which changed to SHACHAM –MINERALS $ CHEMICALS FOR THE INDUSTRY AND AGRICULTURE LTD. on 10.03.1981, which changed to the present name on the 10.05.1984.
Authorized share
capital NIS 33,100.00, divided into:
4,999,994
ordinary shares, of NIS 0.0001 each (3,619,700 shares issued),
32,500
ordinary shares, of NIS 1.00 each,
100
management shares, of NIS 1.00 each (6 shares issued)
6 management shares, of NIS 0.0001 each
(issued),
of which shares amounting
to NIS 367.9706 were issued.
Subject is fully owned by Elisha Kalai.
1. Elisha Kalai, Chairman,
2. Haim Kalai.
Yaron Shapira
Recyclers of organic materials, manufacturers, importers, exporters and
marketers of organic pellets for fertilizer (e.g. organic fertilizer in pellet
form, bio compost, animal feed).
25%-30% of sales are for export, mainly to Southern Spain and Portugal, as
well as to Germany and Holland.
Among local clients: AMIR SUPPLY, HAGARIN, HAMASHBIR FOR AGRICULTURE, GIVAT BRENNER NURSERIES, etc.
Among local suppliers: FERTILIZER S & CHEMICALS, GENIGAR, HAMASHBIR FOR AGRICULTURE, etc.
Operating from owned
premises, offices, plant and warehouse, on an area of 12,000 sq. meters, in
Givat Ada, a village within the Binyamina Local Council, in the Sharon Area.
Having 50
employees.
Financial
data not forthcoming.
There are 28 charges for unlimited amounts,
as well as 3 charges for the total sum of NIS 501,190.41 registered on the
company’s assets (financial assets, fixed assets, equipment and vehicles), in
favor of Bank Leumi Le'Israel Ltd., Bank Hapoalim Ltd. and local companies
(last charge placed July 2012, prior 3 charges placed September 2009).
Sales figures not forthcoming.
Sister companies
also controlled by Elisha Kalai:
· KFIR MINERALS LTD., marketing special sand platforms for pets.
DEKEL
INFRASR
Bank Hapoalim Ltd., Hadera Business Branch
(No. 072), Hadera, account No. 524987.
In May 2012 it was
reported that a local resident of Regavim (in close proximity to subject's
plant), filed a motion to the Haifa District Court for the approval as a class
action lawsuit, for the sum of NIS 40 million, due to severe odor hazards, for
many years (this follows many complaints against subject regarding odor
problems). It should be noted that the procedure for such claims to be approved
are usually long and mostly eventually turned down or reach compromise.
Nothing
unfavorable learned apart from the above.
Subject's
officials refused to disclose financial details.
Subject is a very
long established company. It is considered the largest plant in its field in
Israel.
According to the Bureau of Statistics data, Israel’s total agricultural output
value in 2011 amounted to NIS 28.4 billion, representing nominal rise of 5.6%
from 2010 (after 0.8% rise from 2009 and 2.5% rise from 2008). The output
divided between planted crops – NIS 17.1 billion (12% rise from 2010) and
animals – NIS 11.3 billion (7% increase). Agricultural output in quantity
aspect rose by 2.3%.
In 2011 value of agricultural input amounted to NIS 17.6 billion, 11.2%
nominal increase from 2010. Gross Domestic Product (output value minus
purchased input) was NIS 12.8 billion.
Import of
agricultural raw materials (excluding animal feed) to Israel in 2011 rose by
close to 22% from 2010, summing up to US$ 223.8 million. A 12% rise in
purchased input prices was recorded in 2011 compared to 2010.
Notwithstanding the refusal to disclose financial data, considered good for
trade engagements.
Note: Since the beginning of 2012 Israel Post
started using a new area code method of 7 digits (the old method of 5 digits
will still be valid till end of 2012).
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.53.63 |
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UK Pound |
1 |
Rs.86.18 |
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Euro |
1 |
Rs.69.75 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.